Key Points
- Fathom Holdings plans to invest $500,000 in Bitcoin and integrate crypto payments.
- The company’s goal is to allow Bitcoin payments for agents and customers in the future.
Fathom Holdings, Inc. has announced its intention to add Bitcoin to its asset portfolio. The company’s Board of Directors has given approval for this plan, which aligns with the goal of Fathom Realty to accept Bitcoin as payment from agents and customers in the future.
The company has disclosed that it will use 50% of its excess cash to acquire Bitcoin, based on its projected expenses for the next six months. Fathom Holdings intends to purchase up to $500,000 worth of Bitcoin or Bitcoin ETFs within the next two weeks.
Bitcoin as an Asset Expansion Strategy
Adding Bitcoin to its financial assets marks Fathom’s move beyond relying solely on U.S. dollars. By accepting Bitcoin payments for its real estate services, the company aims to be a leader in technological innovation. CFO Joanne Zach highlighted the increasing acceptance of Bitcoin as a decentralized store of value and the growing interest in other digital currencies.
Zach also pointed out the rising use of Bitcoin in business and financial planning, which has led to its establishment as a hedge against inflation and a protection against global economic and currency risks. She said, “Our Bitcoin strategy diversifies our treasury holdings and, we believe, positions Fathom at the forefront of digital currency transactions in the real estate industry.”
Bitcoin’s Role in Real Estate
Fathom CEO Marco Fregenal expressed that incorporating a Bitcoin strategy and facilitating Bitcoin payments aligns with their aim of enhancing real estate transactions through their software. Their platform, intelliAgent, integrates real estate services to streamline processes, improve accuracy, and reduce costs. Fathom believes Bitcoin can further enhance these benefits and is well-positioned to leverage digital currency in real estate.
More details about Fathom Holdings’ Bitcoin treasury plan will be shared in the company’s current report on Form 8-K, which is expected to be filed with the U.S. Securities and Exchange Commission around January 23, 2025.
In related news, the real estate platform recently acquired My Home Group, a leading Arizona-based brokerage ranked 27th in the country by transaction volume. This acquisition has significantly expanded Fathom’s presence in Arizona, strengthened its network of agents, and reinforced the company’s commitment to delivering tech-driven real estate solutions nationwide.
